Showing 1 - 3 of 3
The market-oriented approach promoted by the European Central Bank in the design of its refinancing operations creates incentives to credit insitutions to use actively the interbank market to manage their liquidity needs. In this context, we examine the ability of the overnight segment to...
Persistent link: https://www.econbiz.de/10013097431
adjustments made at the EU level would have been necessary independently of the financial crisis …
Persistent link: https://www.econbiz.de/10013101191
This paper sheds light on how recent financial tensions in the euro area were ultimately reflected in bank interest rate setting. We make two new contributions. First, we develop a theoretical model capturing banks financing and the rate setting choices. Banks in the model can finance themselves...
Persistent link: https://www.econbiz.de/10012982915